Using the data presented in BE12.4, assume that the shares were sold on February 1, 2019. Record

Question:

Using the data presented in BE12.4, assume that the shares were sold on February 1, 2019. Record the sale under two different assumptions:
In BE 12.4
On August 1, 2018, McLellan Ltd. purchased 1,000 Datawave Inc. common shares for $45,000 cash with the intention of trading the shares and using the fair value through profit or loss model. Datawave declared a of $1 per common share, which McLellan received on December 28, 2018. On December 31, 2018, McLellan's year end, the shares' fair value was $49,000. Prepare the journal entry to record
(a) The shares sold for $47,000, and
(b) The shares sold for $44,000.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...